FTC Says No Price Gouging, So It Must Be True!

Last night (5/22) on "Special Report with Brit Hume", Hume did a brief segment on the release of the most recent FTC report, which found no evidence of price gouging or collusion among Big Oil. Hume took the report at its word, but very conveniently left out pertinent information that might have affected the viewers final opinion, and out right lied about the report's findings.

The entire brief segment consisted of Hume stating in his monotone voice, "The federal trade commission has said it has found no evidence of collusion or price gouging by the major oil companies in the recent sharp rise in gasoline prices. This is similar to the findings of something like 11 previous federal investigations dating back to 1977 into similar allegations whenever fuel prices rose. But Democratic leaders say they are unsatisfied. New York Senator Charles Shumer complains that the FTC ignored the fact that gas prices rise quickly, but fall only slowly after a crises ends."

Well, of course the FTC found no evidence of price gouging, since they didn't have the legal authority to investigate price gouging to begin with. According to CNN:

"One FTC official, though, told CNN that the trade commission can only look into anti-competitive practices and has no legal authority to investigate price gouging."

Hume also neglected to mention just who exactly the Chairman in charge of the FTC currently is: Deborah Platt Majoras, former point person and representative for KBR and CheveronTexaco in her previous job as a lawyer with Jones Day.

I guess the information that an oil industry crony headed the investigation into Big Oil would just be a little too "fair and balanced" for Fox.

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